About the product

Export documentary collection is a conditional form of trade settlements initiated by exporter. Your company orders Bank Millennium to issue to your counterparty (importer) through its bank the trade documents authorising to collect goods in return for payment or securing future payment (for instance, through acceptance of bill of exchange).

Benefits:

  • You will eliminate the risk of releasing goods without payment or without securing future payment (for instance, through acceptance of bill of exchange).
  • You will mitigate the risk of not being paid for the goods sent.
  • You will reduce costs ― the documentary collection is cheaper than documentary letter of credit or bank guarantee.

Scheme

schema

Channels of access to product information

Internet

Wherever you are, with internet access, you can check account balances and history on a 7/24 basis, also viewing information concerning other products i.e.: cards, loans, guarantees and letters of credit, standing orders or term deposits.

Corporate Branch

Get detailed information about Bank Millennium products by contacting Advisors in the Corporate Banking network.

Contact with Advisor

By phone

Our Consultants will provide you with detailed information and will carry out your instructions. 

801 31 31 31
line available for fixed-line and mobile calls

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Questions and answers

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  • 1. In what currencies may export documentary collection be processed?

    The basic currencies are PLN, EUR, USD, but – should the need arise – the transaction may be also performed in other currencies.

  • 2. What type of documents should be sent for collection?

    There is no required set of documents that should be sent for  collection. Most frequently these are as follows: commercial invoice, transport documents (for instance, Bill of Lading ― in maritime transport, air waybill ― AWB, international carriage of goods by road - CMR), insurance documents (policy or certificate), bill of exchange, shipping documents, courier's receipts, postal receipts or proofs of mailing, packing list, certificate of origin, approvals and quality certificates, documents stating type and quantity of goods (for instance, CIS or SGS certificate), various types of reports (for instance, control report or takeover report). 

  • 3. Who initiates the documentary collection process ― exporter or importer?

    Exporter sends the goods and delivers documents with an appropriate order for the Bank, and then this bank sends them to the importer's bank with collection instruction. In order to receive the documents, importer must fulfil the conditions of documentary collection (inter alia, pay or accept bill of exchange).

     

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